Asia Pacific Poultry Feed Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Asia Pacific Poultry Feed Market Analysis

The Asia Pacific Poultry Feed Market size is estimated at USD 71.68 billion in 2024, and is expected to reach USD 83.91 billion by 2029, growing at a CAGR of 3.20% during the forecast period (2024-2029).

Asia-Pacific is the leading poultry feed-producing and consuming region in the world, thereby inflicting a direct impact on the feed market. The increased scale of industrial livestock production in the region has significantly contributed to increased feed production capacities in major economies across the region. As per FAO, the total production reached 1,118,543.7 thousand metric tons for poultry in 2022, as compared to 1,108,749.2 thousand metric tons in 2021 in Asia-Pacific.

The increasing demand for poultry meat products is the major factor driving the market. The rising industrial livestock production and demand for organic feed are two other factors augmenting the market's growth. Poultry is considered one of the most economical sources of protein, due to which poultry products such as eggs and meat are consistently witnessing growth in demand. Furthermore, the rising incomes of the consumers and increasing urbanization in Asia-Pacific are leading to increased demand for poultry products, which, in turn, is leading to the growth of the market studied.

Corn is a major component used for manufacturing other poultry feeds prepared for birds such as ducks, turkeys, and quail. In the upcoming years, the production of compound feed for other poultry birds is expected to flourish due to the policies being formulated for the upliftment of corn production in the Philippines and other Asia-Pacific regions. For instance, in August 2022, the governor of a province in the southeastern corner of the island of Mindanao, Philippines, initiated the consideration of proposals that aimed to expand corn production for use in poultry compound feed. Moreover, there has been an increase in investments in the region's poultry feed-production industry, which would boost the development of the poultry compound feed-production market in the countries. For example, in January 2024, San Miguel, one of the nation’s top commercial feed producers, initiated its plans of investing PHP 21 billion (USD 384 million) in the poultry feed and poultry industry in the country, along with opening 12 new poultry feed facilities.

Furthermore, the poultry industry is also benefiting from government incentives to support recovery and restocking. In 2020, several leading broiler enterprises invested in new broiler construction projects, with a total investment of up to RMB 7.4 billion (USD 1 billion). A combined effect of the drop in output and China’s stockpile of both corn and soy meal resulted in prices for feed grains to soar. China has increased imports of corn to compensate for the shortage, encouraging poultry feed manufacturers to switch to cheaper alternatives. Many of the domestic formulators have turned to wheat, which has a higher protein content than corn and soy.

Moreover, the increased costs of raw materials, along with increased demand for poultry feed materials, are anticipated to hamper the growth of the poultry feed market across Asia-Pacific during the forecast period. For instance, the average feed conversion ratio (FCR) of broiler feed in Thailand decreased to 1.6-1.7 in 2019 from 1.9-2.0 in the past five years. This distortion in the FCR indicates the country’s shift toward the inclusion of poor-quality feed ingredients. The domestic price of corn is one of the major factors influencing feed costs in the country. As mentioned by the Thai Feed Mill Association, feed costs account for nearly 60-65% of the broiler production and 20% of the swine feed in the country. This is mainly restraining the penetration of commercial feed in the country’s poultry industry.

Asia Pacific Poultry Feed Market Trends

The Cereals Segment is the Largest Growing Segment by Ingredients

Asia Pacific Poultry Feed Industry Segmentation

Poultry feed is a mixture of raw materials and supplements fed to the poultry birds, sourced from either plant, animal, organic or inorganic substances or industrial processing, whether containing additives. A balanced diet is essential according to the requirements for maintenance and various productive functions. Poultry feed is carefully formulated, ensuring optimal quantities of all essential ingredients. The Asia-Pacific poultry feed market is segmented by animal type (layer, broiler, turkey, and other animal types), ingredients (cereal, oilseed meal, oil, molasses, and other ingredients), supplements (vitamins, amino acids, antibiotics, enzymes, antioxidants, acidifiers, probiotics, and prebiotics, and other supplements), and geography (India, China, Japan, Australia, Pakistan, and Rest of Asia-Pacific). The report offers the market size and forecasts in terms of value (USD) and volume (metric tons) for the segments mentioned above.